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Russian Minister Says Ukraine Unable to Promise Storage and Transit of LNG for Europe
May. 05, 2014 10:13AM PST
Oil and Gas InvestingITAR-TASS reported today that Russian Energy Minister Alexander Novak has stated that Ukraine will be unable to store enough natural gas for transit through to Europe in the summer. The minister admonished European countries to share the responsibility of natural gas storage.
ITAR-TASS reported today that Russian Energy Minister Alexander Novak has stated that Ukraine will be unable to store enough natural gas for transit through to Europe in the summer. The minister admonished European countries to share the responsibility of natural gas storage.
As quoted in the publication:
According to Novak, at least 18.5 billion cubic meters of gas need to be held in underground gas storage facilities in wintertime. “Our estimates indicate that there are about 4-6 billion cubic metres of gas there now. This means that about 12 billion cubic meters of gas have to be pumped into the underground gas storage facilities in western Ukraine from May to September. That’s a rather large amount,” he said.
Click here to read the full ITAR-TASS article.